Monday, August 19, 2013

AUD pushing higher ahead of RBA minutes

The Aussie Dollar is pushing towards its highest level in three weeks, ahead of tomorrows release of the RBA minutes believed to be showing that there is no hurry to reduce interests rates further.

The yield on Australia’s 10-year government bond has been trading near 4.02 percent, the highest we've seen in two months.

Interestingly Friday's COT data showed that managed money slightly reduced their overall net short position, indicating a slight reduction in the overall bearish view toward the AUD.

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